Samsung, LG and Google tipped to bid for BlackBerry

Samsung, LG and Google tipped to bid for BlackBerry

Samsung, LG, Google, Cisco Systems and Intel Corp are potential bidders for the sale of all or part of the troubled manufacturer BlackBerry, say sources.

The company, based in Ontario, Canada, has asked for preliminary expressions of interest from potential buyers by early next week and has received interest from a number of technology companies, according to Reuters.

Bids from technology giants such as Samsung or Google could see off Fairfax Financial Holdings $4.7bn bid to take the company private. Fairfax is BlackBerry’s largest shareholder. The bid reveals BlackBerry’s plunging fortunes. In 2008 the manufacturer was valued at $50bn.

Private equity firms have also shown an interest in BlackBerry, including Cerberus Capital Management, sources say.

A company sposkeman said this week it is ‘conducting a robust and thorough review of strategic alternatives.’ He declined to provide further comment.

BlackBerry said last month it had signed a letter of intent with Fairfax Financial Holdings. However it also said at the time it was not in exclusive talks with the Canadian financial holdings company. 

Written by Mobile Today
Mobile Today


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